Despite Market Crash, Crypto Crowd Dominate Davos' Main Street

A free bitcoin pizza stall and a "Liquidity Lounge" were among the treats on offer for attendees at this year's meeting in Davos, where blockchain and cryptocurrency firms have taken over its main street, despite a recent crash in digital coin values.

Political and business leaders gathering for the World Economic Forum meet against a backdrop of inflation at its highest level in major economies

Political and business leaders gathering for the World Economic Forum meet against a backdrop of inflation at its highest level in major economies

Cryptocurrency firms, many of which lined the main street in Davos this week, were told they will need to clean up their act before gaining complete acceptance from the World Economic Forum's old guard.

Cryptocurrency firms, many of which lined the main street in Davos this week, were told they will need to clean up their act before gaining complete acceptance from the World Economic Forum's old guard.

The theme of the World Economic Forum (WEF) summit would be 'Cooperation in a Fragmented World' and it will convene more than 2,700 leaders from 130 countries.

While Davos has not seen any major security issue in over 50 years of hosting the WEF meeting, insiders say that the military cog has always been the best here when it comes to coordinating between various units.

The WEF said globally businesses are expected to cut costs significantly in response to economic headwinds, but chief economists are optimistic about inflation and strong balance sheets.

While recent data has raised hopes economies can still pull off a soft landing, last year's surge in inflation and the subsequent hiking of interest rates by central banks have many braced for economies to contract.

This is the most pessimistic CEOs have been regarding global economic growth since PwC began asking this question 12 years ago.

This investment is likely to create direct employment for at least 10,000 people in the state, said state Industries Minister Uday Samant on Monday.

"Is it all gloom and doom? Not probably...If Mr Putin decides to end the war, there would be certainly an upside," Raghuram Rajan noted.

Over 93 per cent of cybersecurity experts and 86 per cent of business leaders believe "a far-reaching, catastrophic cyber event is likely in the next two years" and there is a critical skills gap that is threatening societies and key infrastructure.

Uber has worked to cut costs for months, early enough relative to others that a memo the CEO wrote on this tougher stance "landed a bit like a lead balloon initially," Dara Khosrowshahi saidon the sidelines of the World Economic Forum's annual meeting.

The minister said other countries, including China, had also raised the issue of settling non-oil trade payments in local currencies.

Despite the urgent need for climate finance, numerous barriers have impeded the flow of private capital to decarbonisation projects around the world and especially in the Global South, experts and business leaders noted.

The World Economic Forum's five-day online Davos Agenda summit will kick off tomorrow with special address by Prime Minister Narendra Modi

Wealth of 10 richest Indians is enough to fund education of children in the country for 25 years, says Oxfam India's inequality survey

India has repeatedly objected to Malaysian Prime Minister Mahathir Mohamad speaking out against its recent policies which critics say discriminate against Muslims. Malaysia, a Muslim-majority nation, is the second biggest producer and exporter of palm oil and India's restrictions on the refined variety of the commodity imposed last week have been seen as retaliation f...

A number of business and political leaders are expected to attend the 2017 Vibrant Gujarat Summit.